Quebec · Bankruptcy
Trustee's Report on her preliminary administration
Court officer report · 4 January 2024
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What we verified from this filing5 verified
- financial positionnote: Assets consist solely of cash held in Receivership account ($2,435,251), with no realization recorded to date; buildings' sale proceeds to be distributed within the separate Receivership Proceedings, leaving no equity for the estate. Liabilities per Statement of Affairs total $5,594,778 (secured $5,082,497 + unsecured $512,281); proofs of claim received to date total a different figure of $2,936,608 (secured proofs nil/partial, unsecured $1,896,217). · page: 2 · as at: Statement of Affairs · basis: Statement of Affairs figures as reported in Trustee's preliminary administration report · scope: 9766049 Canada Inc. (bankruptcy estate, single entity) · currency: CAD · total assets: 2435251 · total liabilities: 5594778
- secured creditorsnote: Legal opinion obtained confirming validity/enforceability of security; Trustee also acts as agent for EB pursuant to s.13.4 BIA. No proof of claim recorded to date (shown as '-'). · page: 3 · as of: Statement of Affairs · amount: 3062497 · debtor: 9766049 Canada Inc. · creditor: Equitable Bank · currency: CAD · security: Conventional hypothec of superior rank (the "EB Hypothec")
- secured creditorsnote: Proof of claim received to date states $415,107, differing from the Statement of Affairs estimate. · page: 3 · as of: Statement of Affairs · amount: 1360000 · debtor: 9766049 Canada Inc. · creditor: Gestion 70 Promenade du Portage Ltée (G70) · currency: CAD · security: Conventional hypothec ranking junior to the EB Hypothec (the "G70 Hypothec")
- secured creditorsnote: Proof of claim received to date states $625,284, close to but not identical to the Statement of Affairs estimate. · page: 3 · as of: Statement of Affairs · amount: 660000 · debtor: 9766049 Canada Inc. · creditor: FGI Holding Inc./Fischer Group Inc. (FGI) · currency: CAD · security: Conventional hypothec ranking junior to the EB Hypothec and the G70 Hypothec
- recovery outcomeentries: basis: estimated · quote: The anticipated realization is insufficient to pay all of the secured creditors in full, therefore there is no anticipated dividend for the unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2024-01-04 · table missing: